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The DC Today - Wednesday April 26, 2023

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Manage episode 361775396 series 2524881
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Today's Post - https://bahnsen.co/3V6B23f

The House Rules Committee voted at 2:20 am to send the House spending legislation to the floor for a vote, implying that Speaker McCarthy has the 218 votes needed to pass a debt ceiling increase that also cuts $4 trillion from government spending over the next ten years. We watch and wait.

The Fed Funds Futures have come down to a 77% implied probability of a quarter-point rate hike next week (it had been 93% a couple of days ago). That’s still pretty high and still pretty close to a “sure thing,” but maybe if the First Republic Banks continue that you see in the news, it won’t be a sure thing.

That issue is the primary driver of markets right now, today even outweighing what was a pretty solid beat from some big tech companies.

Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com

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933 episodes

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The DC Today - Wednesday April 26, 2023

The Dividend Cafe

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Manage episode 361775396 series 2524881
Content provided by The Dividend Cafe - The Bahnsen Group and The Bahnsen Group. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Dividend Cafe - The Bahnsen Group and The Bahnsen Group or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Today's Post - https://bahnsen.co/3V6B23f

The House Rules Committee voted at 2:20 am to send the House spending legislation to the floor for a vote, implying that Speaker McCarthy has the 218 votes needed to pass a debt ceiling increase that also cuts $4 trillion from government spending over the next ten years. We watch and wait.

The Fed Funds Futures have come down to a 77% implied probability of a quarter-point rate hike next week (it had been 93% a couple of days ago). That’s still pretty high and still pretty close to a “sure thing,” but maybe if the First Republic Banks continue that you see in the news, it won’t be a sure thing.

That issue is the primary driver of markets right now, today even outweighing what was a pretty solid beat from some big tech companies.

Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com

  continue reading

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